Hola Rotarians:
The Microcredit Projects in Hermosillo, Mexico, continue to be very successful. The two Global Grants in Hermosillo, administered by our Micro-Finance Institution (FinReg), have now been closed by RI. They continue to perform well and exceed our long term goal of 97.5 percent collection. Over 85 percent of the borrowers are women, and many are single mothers. We will continue to report the Microcredit Mexico activity on a quarterly basis; portfolio as of Oct. 1, 2017:
The Global Grant for our project in Nogales, Mexico, has been approved by RI for $88,892 (approximately 1,555,610 pesos) and we anticipate starting FinReg loan activities in Q‘18. Currently, the Tempe South Rotary Club is the international sponsor, with the Nogales Sur Rotary Club serving as the host club in Nogales for Rotary years 2017/18/19. This project will bring us back to Nogales and bring our activities closer to Arizona Rotarians once more.
Future Rotary Microcredit lending projects in Sonora, Mexico, with our MFI Partner “FinReg” will allow us to expand Rotary micro-lending to more Sonora locations in 2018/19/20. Possible project locations we are exploring are Agua Prieta, Gauymas, San Filipe and Puerto Penasco. These locations were reviewed by the microcredit committee at the Mexican–American Conference last month. Key to the next location is establishing a host Rotary club and a US international sponsor. All funds collected to date, not dedicated to the Nogales Grant, will be applied to this next project once it is established.
We will schedule trips to the Hermosillo and Nogales projects for RY 2018/19. Join us and see firsthand how small loans really do make a big difference. Tours are limited to eight visitors on a first-come basis. If you would like to participate, please contact Terry Lubsen at 480.699.9649, 480.250.8159 or email mexicomicrocredit@gmail.com; or call Abe Feder at 602.622.7289.
If you would like a presentation for your club or other civic organization or are interested in learning how small amounts of money loaned make a big difference to overcome poverty, contact Terry at mexicomicrocredit@gmail.com, or call 480.699.9649 or 480.250.8159. Visit the website at RotaryMicrocreditMexico.org.
All Rotarian contributions to a Global Grant will earn Rotarians Paul Harris credits, be 50 percent matched by the Rotary Foundation, are tax deductible through our 501C3 foundation and help us reach new borrowers who have no other source of capital to support themselves and their families. Microcredit is the most effective and sustainable poverty intervention program available. Join us in this Rotary International Community Development Project and make a big difference in the lives of the people we support. “Help People Help Themselves, Provide for their Families and their Future”
Terry Lubsen
District 5495 Microcredit Project Coordinator